council housing boost

Theresa May has announced that local councils will be able to borrow more money to fund housebuilding developments, in order to meet affordable housing targets.

The cap on funding applications for the Housing Revenue Account (HRA) will be scrapped, said the Prime Minister, helping people to get on the housing ladder by allowing councils to “build the homes this country needs”.

At the Conservative Party conference in Birmingham, Mrs May said, “Solving the housing crisis is the biggest domestic policy challenge of our generation. It doesn’t make sense to stop councils from playing their part in solving it.”